Manama, Bahrain: stc Bahrain, a world-class digital enabler, announced the signing of a USD186 million 5-year bullet payment loan, provided by Abu Dhabi Islamic Bank and MUFG Bank. This deal comes as part of stc Bahrain’s ongoing investment in developing and enhancing its existing ICT infrastructure in Bahrain to pave the way for future digital services. The signing ceremony took place at the Ritz Carlton Hotel on the 31st of October 2021.

The deal will provide the necessary liquidity to further invest in stc Bahrain’s ICT infrastructure and improve the company’s overall digital capabilities. It will do this by introducing new innovative solutions that will add value to customers by delivering differentiated products and solutions and providing the best digital offerings in Bahrain.

Eng. Nezar Banabeela, CEO of stc Bahrain, commented: “We are delighted to sign this deal with ADIB and MUFG Bank. This will support stc Bahrain’s growth strategy by furthering our investment in our ICT infrastructure. We are proud of our efforts to finalize this milestone deal with ADIB and MUFG.”

He further added: “This agreement represents a significant step toward Bahrain’s digital future. We will further enhance our ICT infrastructure and accelerate digital transformation to create more smart and sustainable solutions, supporting the Kingdom’s economic vision”.

The new finance deal demonstrates stc Bahrain’s commitment and efforts toward transformational technologies, leading the way in digitizing service experiences and making them more relevant to today’s evolving customer needs.

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For more information, please contact:
Pooja Rekhi Sharma: 1756 1723, pooja.sharma@ogilvy.com
Hind Al Awadhi: 1756 1725, hind.alawadhi@ogilvy.com

Bahrain stc About

stc Bahrain, a subsidiary of stc Group, is the fastest-growing, most innovative telecommunication operator in Bahrain. Since its inception in 2010, stc Bahrain revolutionized the telecommunications industry in the Kingdom of Bahrain and quickly became a market leader, a position that it kept to this day through investing in next-generation technologies and introducing innovative solutions to the people of Bahrain. In 2018, stc Bahrain disrupted fintech with its stc pay ecosystem of services.

stc Bahrain made many local, regional and global breakthroughs, earning it over 30 awards in just eleven years for being the best, widest and fastest network that connects people with an empowering host of products and services. Its persistent dedication to innovation has positioned it as a driving force in delivering telecommunication, digital and mobile financial services for everyday customers, homes and businesses. Together with a broad spectrum of benefits and customizable offerings that provide utmost control and flexibility in a world of evolving digital needs, stc Bahrain today has not only become the preferred Telecommunications network in Bahrain, but also the most forward-looking fearless disruptor in Telecommunication and Fintech. For more information, please visit www.stc.com.bh and follow us on: www.twitter.com/stc_bhr www.instagram.com/stc_bhr www.youtube.com/stcbhr www.facebook.com/stc.bhr www.linkedin.com/company/stcbahrain 

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